Mortgage Rates Saskatoon, Saskatchewan — 2025

Compare current fixed and variable mortgage rates in Saskatoon. Average home price: $380,000. No land transfer tax.

Saskatoon Mortgage Market 2025

Saskatoon's real estate market in 2025 reflects a city at a crossroads of resource wealth and urban growth. The average home price is approximately $380,000, higher than Regina due to Saskatoon's status as Saskatchewan's commercial hub and the demand generated by the University of Saskatchewan and Nutrien's corporate presence. Mortgage lending conditions in 2025 are more favourable than 2022–2023 as rates have moderated from their peak.

Current Saskatoon Mortgage Rate Ranges (2025)

Product	Term	Approximate Rate Range
Fixed Rate	1 Year	5.14% – 5.89%
Fixed Rate	2 Year	4.79% – 5.49%
Fixed Rate	3 Year	4.59% – 5.29%
Fixed Rate	5 Year	4.39% – 5.09%
Variable Rate	5 Year	Prime – 0.5% to Prime + 0.5%
HELOC	Open	Prime + 0.5% – Prime + 1.0%

Rates are indicative for 2025 and subject to change. Confirm with lenders directly.

Down Payment Amounts for Saskatoon Homes

Purchase Price	5% Down	10% Down	20% Down
$350,000	$17,500	$35,000	$70,000
$380,000	$19,000	$38,000	$76,000
$450,000	$22,500	$45,000	$90,000
$500,000	$25,000	$50,000	$100,000

Best Saskatoon Mortgage Lenders 2025

For the best mortgage rate in Saskatoon, compare at least two lenders — including one Saskatchewan credit union. Credit unions operate under provincial regulation and can sometimes offer rates and terms unavailable from federally regulated banks.

• Conexus Credit Union — Largest SK CU; strong 5-year fixed rates; local underwriting
• Affinity Credit Union — Competitive variable rates; flexible for self-employed borrowers
• RBC Royal Bank — Strong for high-ratio insured mortgages; best digital tools
• TD Canada Trust — Rate-match guarantee; good for professionals needing large credit lines
• Mortgage brokers — Access monoline lenders (e.g., MCAP, First National) for lowest rates

Saskatchewan No Land Transfer Tax Savings

Buying a $380,000 home in Saskatoon means zero land transfer tax — just a title transfer fee of about $500–$800. Compare this to Toronto, where the same purchase would generate approximately $5,475 in combined provincial and municipal land transfer tax. This saving directly reduces your cash needed at closing.

CMHC Insurance for Saskatoon Buyers

A $380,000 Saskatoon home with 5% down ($19,000) carries a CMHC insurance premium of 4.00% on the $361,000 insured mortgage = $14,440, added to the mortgage. Saskatchewan PST of 6% on the CMHC premium ($866) is due at closing. With 10% down, the CMHC premium drops to 3.10% ($11,161 on the insured amount).

Saskatoon Mortgage Pre-Approval Tips

• Get pre-approved before house hunting — Saskatoon's market moves quickly in spring
• Bring pay stubs, T4s for 2 years, and bank statements
• Self-employed? Bring 2 years of NOAs (Notice of Assessment) from CRA
• Pre-approval is typically valid for 90–120 days in Saskatchewan
• Lock a rate hold immediately if you find a favourable rate